International Marketing Mix Strategy
Introduction
My allocated product category (from Week 1) is Retail Fashion Chain
My Company is Zhik (Waterproof Sports Clothing)
My Companys Product is Clothing
My Country is England
International Marketing Mix Strategy of Zhik
Lets start by shedding some light on the company. Zhik came into existence in 2003. The company Head noticed a lag in the development of sailing attire markets. Compared to that, other water sportswear, for example, surfing attire was doing well. A crystal possibility was seen to launch a new brand, which had fresh and novel products to offer with great style, and came with a unique competitive edge.
1.1 Product
The market that I chose for Zhik to enter is England. The reason behind this step was that the target market was adequate, and there were no language barriers. The fact that significant athletes wear Zhik, already gave the company a set foundation to flourish in England. The wet marine attire that is provided by Zhik is of top quality. Moving in the UK market was good also because of the intense psychological relations present between the two countries. This is important as no editions in gear will be required. When entering an international market, the language, lifestyle and specific rules and regulations should be kept in mind ADDIN ZOTERO_ITEM CSL_CITATION citationIDa76voicss8,propertiesformattedCitation(Kraus et al., 2016),plainCitation(Kraus et al., 2016),citationItemsid143,urishttp//zotero.org/users/local/zTPHp9Do/items/URVAXERI,urihttp//zotero.org/users/local/zTPHp9Do/items/URVAXERI,itemDataid143,typearticle-journal,titleStandardisation vs. adaption a conjoint experiment on the influence of psychic, cultural and geographical distance on international marketing mix decisions,container-titleEuropean Journal of International Management,page127-156,volume10,issue2,authorfamilyKraus,givenSascha,familyMeier,givenFabian,familyEggers,givenFelix,familyBouncken,givenRicarda B.,familySchuessler,givenFelix,issueddate-parts2016,schemahttps//github.com/citation-style-language/schema/raw/master/csl-citation.json (Kraus et al., 2016). Zhik already had an advantage as Australia has a very similar market as England, almost the same laws, lifestyle and language, is also the same.
The only thing that Zhik has to change in its product is the sizes. They have to put the gear out is UK sizes. The Zhik AroshellTM wet attire and Zhick IsotekTM wet attire will only have to change the size tags on them. When it comes to the footwear, the sizes on them will also have to be changed in regards to the UK sizing. The equipment does not require any changing it will stay standard as it is everywhere else. The edge that Zhik carries is that the market is quite targeted, the company is targeting the niche segment for their products ADDIN ZOTERO_ITEM CSL_CITATION citationIDajfibkr3ms,propertiesformattedCitation(Baker and Saren, 2016),plainCitation(Baker and Saren, 2016),citationItemsid144,urishttp//zotero.org/users/local/zTPHp9Do/items/PUNPH9V9,urihttp//zotero.org/users/local/zTPHp9Do/items/PUNPH9V9,itemDataid144,typebook,titleMarketing theory a student text,publisherSage,ISBN1-4739-4266-7,authorfamilyBaker,givenMichael J.,familySaren,givenMichael,issueddate-parts2016,schemahttps//github.com/citation-style-language/schema/raw/master/csl-citation.json (Baker and Saren, 2016). That accompanied by the original, and nowhere to be found functionality provides the brand with its authenticity in the market. Since customers are already savvy about what they purchase, this approach works for them very well ADDIN ZOTERO_ITEM CSL_CITATION citationIDa1ntitmf15n,propertiesformattedCitation(Ahmed and Rahman, 2015),plainCitation(Ahmed and Rahman, 2015),citationItemsid145,urishttp//zotero.org/users/local/zTPHp9Do/items/MR4LJEKT,urihttp//zotero.org/users/local/zTPHp9Do/items/MR4LJEKT,itemDataid145,typearticle-journal,titleThe effects of marketing mix on consumer satisfaction A literature review from Islamic perspective,authorfamilyAhmed,givenSelim,familyRahman,givenMd,issueddate-parts2015,schemahttps//github.com/citation-style-language/schema/raw/master/csl-citation.json (Ahmed and Rahman, 2015).
1.2 Place
When it comes to the distribution of Zhik products in the UK, the company will be opening a flagship store in the country. The store is in Cowes High Street UK. This will be very appropriate as they will be ready for the sailing season. The leading distributor will provide the retail store with all of the latest gear. It will be made sure that all the gear and new additions are consistently being added to the stores to satisfy the customers. The chain is pretty simple from the main business to the distributors, and then finally to the retail stores and dealers for the availability of the customers ADDIN ZOTERO_ITEM CSL_CITATION citationIDa288qvqkbeb,propertiesformattedCitation(Cameron et al., 2016),plainCitation(Cameron et al., 2016),citationItemsid146,urishttp//zotero.org/users/local/zTPHp9Do/items/4WKWMCGC,urihttp//zotero.org/users/local/zTPHp9Do/items/4WKWMCGC,itemDataid146,typearticle-journal,titleA systematic review of the effectiveness of supermarket-based interventions involving product, promotion, or place on the healthiness of consumer purchases,container-titleCurrent Nutrition Reports,page129-138,volume5,issue3,authorfamilyCameron,givenAdrian J.,familyCharlton,givenEmma,familyNgan,givenWinsfred W.,familySacks,givenGary,issueddate-parts2016,schemahttps//github.com/citation-style-language/schema/raw/master/csl-citation.json (Cameron et al., 2016). The customisation service will also be available at this store. There are plenty of dealers and stores that will also be selling the products.
Other than that, the store will be managed by Andrew Palfrey and Kate. Kate is someone who has made a career in retail and customer service experience. On the other hand, Andrew is a two times Etchells World Champion. Apart from that, there is also a virtual store online, in which there is a set option for the UK customers giving them a completely customised experience. There is a set warehouse where all the products are to be delivered from Australia, from there the distributors send them to the stores and other retailers. Apart from having a store at Cowes, the Zhik merchandise is also being sold at Ocean Leisure, Wetsuit Outlet, Coast Water Sports, Sailingfast, The Bosuns Locker, Largs Chandlery Ltd, Firmhelm Limited, Hartley Boats Ltd, Pinnel Bax, Seamark Nunn Ltd, Sailingchandlery.com, Yachting Solutions, The Sup Company, Force 4 Deacons, Purple Patch (hamble) Ltd, Hayling Island Sailing Club Chandlery, IBI Sailing, Apollo Marine Systems Ltd, Full Throttle Watersports. Thus covering pretty much a good niche market in the UK, and satisfying the customers very well.
1.3 Promotion
When it comes to the promotion, Zhik has shown commitment to the market of the UK. They have assigned two times moth championship winner Simon Payne as the head of the operations in the UK. Zhik was practically unknown in Englands Market. Only the top competitive sailors were familiar with the brand. Zhik already had a strong following from the young dinghy sailors, due to fruitful events and sponsorship of the athletes. Having said that, Zhik was still not known when it came to the big boat community, which included people who were into cruising and yachting. The first thing was building brand awareness, for which a Public Relations program was started ADDIN ZOTERO_ITEM CSL_CITATION citationIDa8619pfg00,propertiesformattedCitation(Wongleedee, 2015),plainCitation(Wongleedee, 2015),citationItemsid147,urishttp//zotero.org/users/local/zTPHp9Do/items/DR6XTKYB,urihttp//zotero.org/users/local/zTPHp9Do/items/DR6XTKYB,itemDataid147,typearticle-journal,titleMarketing mix and purchasing behavior for community products at traditional markets,container-titleProcedia-Social and Behavioral Sciences,page2080-2085,volume197,authorfamilyWongleedee,givenKevin,issueddate-parts2015,schemahttps//github.com/citation-style-language/schema/raw/master/csl-citation.json (Wongleedee, 2015). This ensured that the word was getting out to the key journalists. Then came the step of introducing the brand to the people who were unaware of it. It was indeed tough to build a reputation with the press.
It was also made sure that the Zhik products were selected for testing and were featured in various articles. The Zhik distributors were also approached to make sure to get the word of the brand out there. Then the brand was also exposed to the potential youth who will be interested in sailing in the future, while also maintaining the relations with the existing market. The cooperation of a partnership was made with the impressive Penerai British Classic Regatta in Cowes. This helped put Zhik on the mark in the UK, as the company grabbed the opportunity to dress the majority of the fleet. Within a year, the company made its mark and made people aware of it. By the next year, even the competitors started praising the company.
1.4 Price
There is a distinct difference between the Australian dollar and the UK pound. As far as the pricing strategy is concerned, the Australian prices will be converted to the UK pricing. Whatever the case, the pricing will be beneficial for Australia because of the power of the pound. There will not be any pricing penetration as the products provided by Zhik are high end. The target market is niche sailing fleets and the people who are interested in water-resistant gear and tools ADDIN ZOTERO_ITEM CSL_CITATION citationIDa9b6svsbk2,propertiesformattedCitation(Imaningsih, 2018),plainCitation(Imaningsih, 2018),citationItemsid148,urishttp//zotero.org/users/local/zTPHp9Do/items/HVI4XXV9,urihttp//zotero.org/users/local/zTPHp9Do/items/HVI4XXV9,itemDataid148,typearticle-journal,titleThe Model Of Product Quality, Promotion, Price, And Purchase Decisions,container-titleJurnal Ekonomi,volume23,issue2,authorfamilyImaningsih,givenErna S.,issueddate-parts2018,schemahttps//github.com/citation-style-language/schema/raw/master/csl-citation.json (Imaningsih, 2018). The prices will stay set. The fact that the marketing is done in a manner that top Olympic participants use the products, this already speaks for what the pricing will be like and what kind of customers is the company opting for.
The customers themselves are aware of the fact that the company will not be fluctuating their price whatsoever. Zhik is already a well-established brand and does not require to fiddle with its costs to gain a market ADDIN ZOTERO_ITEM CSL_CITATION citationIDauoi111nuc,propertiesformattedCitation(Conolly et al., 2017),plainCitation(Conolly et al., 2017),citationItemsid150,urishttp//zotero.org/users/local/zTPHp9Do/items/3NVGLRVQ,urihttp//zotero.org/users/local/zTPHp9Do/items/3NVGLRVQ,itemDataid150,typebook,titleWatersport hiking support system,publisherGoogle Patents,authorfamilyConolly,givenBrian John,familyHussey,givenThomas Kenneth,familyMilczarczyk,givenBartosz,familyKerr,givenAndrue,issueddate-parts2017,schemahttps//github.com/citation-style-language/schema/raw/master/csl-citation.json (Conolly et al., 2017). One of the other reasons to enter the UK was that the market was almost achieved. Majority of the participants in the UK Olympics fleet were flaunting Zhiks clothing ADDIN ZOTERO_ITEM CSL_CITATION citationIDaer2066gkj,propertiesformattedCitation(Zykova, 2016),plainCitation(Zykova, 2016),citationItemsid149,urishttp//zotero.org/users/local/zTPHp9Do/items/N7QMUEIK,urihttp//zotero.org/users/local/zTPHp9Do/items/N7QMUEIK,itemDataid149,typethesis,titleThe study of suport marketing campaigns in sailing with elaboration of a sponsorship decision model,authorfamilyZykova,givenAnna,issueddate-parts2016,schemahttps//github.com/citation-style-language/schema/raw/master/csl-citation.json (Zykova, 2016). This explains very well the quality and status of the brand itself. When a fully developed brand enters the market, they rarely apply marketing strategies to attract consumers. Such a company is already in the eye of the customers. Apart from yearly sales, there is no fluctuation in the pricing ADDIN ZOTERO_ITEM CSL_CITATION citationIDaok7mlvvkh,propertiesformattedCitation(Hussey et al., 2016),plainCitation(Hussey et al., 2016),citationItemsid151,urishttp//zotero.org/users/local/zTPHp9Do/items/IEJMDARD,urihttp//zotero.org/users/local/zTPHp9Do/items/IEJMDARD,itemDataid151,typebook,titleWaterproof relief outlet,publisherGoogle Patents,authorfamilyHussey,givenThomas Kenneth,familyMilczarczyk,givenBartosz,familyKerr,givenAndrue,issueddate-parts2016,schemahttps//github.com/citation-style-language/schema/raw/master/csl-citation.json (Hussey et al., 2016). The sales are for all the markets worldwide, so it is not something specific for a particular market.
2.0 Recommendation of Market Feasibility
Zhik has a staunch thought that moving in the market of England will prove to be beneficial for them, and help with their financial growth. The fact that the market of Australia is similar to the market of England also helped make a spot in the UK. I believe that they made an excellent decision, especially now that they have grabbed the attention of the London Olympics, the company will only progress further ADDIN ZOTERO_ITEM CSL_CITATION citationIDac52ahif2s,propertiesformattedCitation(Hussey and Milczarczyk, 2018),plainCitation(Hussey and Milczarczyk, 2018),citationItemsid152,urishttp//zotero.org/users/local/zTPHp9Do/items/WRTCRUPX,urihttp//zotero.org/users/local/zTPHp9Do/items/WRTCRUPX,itemDataid152,typebook,titleProtective Hood With Improved Vision For Waterproof Marine Garments,publisherGoogle Patents,authorfamilyHussey,givenThomas Kenneth,familyMilczarczyk,givenBartosz,issueddate-parts2018,schemahttps//github.com/citation-style-language/schema/raw/master/csl-citation.json (Hussey and Milczarczyk, 2018). The market is already well developed for sailing gear in the UK this works in a benefit for Zhik. All they have to do is let word of mouth do its work. The competitors might be there, but Zhiks well-established PR will work to its advantage.
References
Kraus, S., Meier, F., Eggers, F., Bouncken, R.B. and Schuessler, F., 2016. Standardisation vs. adaption a conjoint experiment on the influence of psychic, cultural and geographical distance on international marketing mix decisions.European Journal of International Management,10(2), pp.127-156.
Baker, M.J. and Saren, M. eds., 2016.Marketing theory a student text. Sage.
Ahmed, S. and Rahman, M., 2015. The effects of marketing mix on consumer satisfaction A literature review from Islamic perspective.
Cameron, A.J., Charlton, E., Ngan, W.W. and Sacks, G., 2016. A systematic review of the effectiveness of supermarket-based interventions involving product, promotion, or place on the healthiness of consumer purchases.Current Nutrition Reports,5(3), pp.129-138.
Wongleedee, K., 2015. Marketing mix and purchasing behavior for community products at traditional markets.Procedia-Social and Behavioral Sciences,197, pp.2080-2085.
Imaningsih, E.S., 2018. The Model Of Product Quality, Promotion, Price, And Purchase Decisions.Jurnal Ekonomi,23(2).
Zykova, A., 2016.The study of suport marketing campaigns in sailing with elaboration of a sponsorship decision model(Doctoral dissertation).
Conolly, B.J., Hussey, T.K., Milczarczyk, B. and Kerr, A., Zhik Pty Ltd, 2017.Watersport hiking support system. U.S. Patent 9,549,576.
Hussey, T.K., Milczarczyk, B. and Kerr, A., Zhik Pty Ltd, 2016.Waterproof relief outlet. U.S. Patent 9,315,247.
Hussey, T.K. and Milczarczyk, B., Zhik Pty Ltd, 2018.Protective Hood With Improved Vision For Waterproof Marine Garments. U.S. Patent Application 15/923,440.
Marketing Mix PAGE 7
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